Stantec Stock Price, News & Analysis

Stantec has been appointed as the Engineer of Record for the second phase of the Gross Reservoir Expansion (GRE) Project in Boulder County, Colorado. This US$531 million initiative will raise the existing dam by 131 feet, making it the tallest dam in Colorado and increasing its capacity to approximately 119,000 acre-feet. The project aims to enhance water security for over 1.5 million residents. Stantec's contract for the construction phase is valued at US$20 million and includes comprehensive engineering support to ensure project compliance and quality.

Stantec has been awarded a five-year, US$30 million contract by NAVFAC Southwest to provide architect-engineer and consulting services focusing on encroachment management and mission readiness at Navy and Marine Corps facilities in Southern California.

This contract expands Stantec's collaboration with NAVFAC, following successful previous projects including the development of an enterprise decision-support system. The scope includes land use planning, geospatial analysis, and other specialized studies to mitigate encroachment impacts.

Cadiz Inc. (NASDAQ: CDZI/CDZIP) is set to start construction on three new groundwater wells at Cadiz Ranch in October 2022, increasing its wellfield capacity to 36,000 acre-feet per year, a 33% boost from current capacity. An engineering study for the Northern Pipeline Project, which aims to convert an existing oil and gas pipeline to transport water, is complete. This pipeline can deliver approximately 25,000 acre-feet of water uphill to Barstow and 30,000 acre-feet downhill for storage. The project aims to address water scarcity in California.

Stantec has been selected to conduct a $16 million feasibility study for the Resolution Copper project in Arizona, aiming to supply up to 25% of US copper demand annually. This underground mine is expected to be one of North America's largest copper producers, providing vital materials for the energy transition, including electric vehicles and solar panels. Stantec's involvement includes engineering services and plans to utilize battery electric vehicles to achieve zero carbon emissions.

Stantec has been selected by the National Association of Clean Water Agencies (NACWA) to conduct a comprehensive study on the financial impacts of PFAS (per- and polyfluoroalkyl substances) on wastewater management across the US. This project aims to assess compliance costs and their implications for the clean water community and ratepayers. With expected completion in early 2023, the study will build on past research to provide valuable insights for utilities and regulators tackling PFAS contamination, which poses significant health and environmental risks.

Stantec (TSX, NYSE:STN) reported Q2 2022 results with a strong performance, achieving 22.9% net revenue growth to $1.1 billion. Adjusted diluted EPS increased 33.9% to $0.83 from Q2 2021. The company’s contract backlog grew to a record $5.8 billion, reflecting 13% organic growth. Despite a 4% decline in net income to $60.7 million, the strategic execution and project margins increased. Full-year adjusted diluted EPS guidance forecasts 22% to 26% growth compared to 2021. Challenges include cash flow outflows of $4.4 million due to integration costs and increased working capital investments.

Stantec will announce its second quarter 2022 financial results on August 10, 2022, after market closure. A conference call led by CEO Gord Johnston and CFO Theresa Jang is scheduled for August 11, 2022, at 7:00 AM MT (9:00 AM ET) to discuss the company’s performance. Investors can access the webcast and presentation here. Stantec emphasizes its community-centric approach, integrating diverse expertise to enhance project quality globally.

Stantec has been appointed as the Program Management Consultant for the Iona Island Wastewater Treatment Plant (IIWWTP) Projects in Vancouver, British Columbia, under a $9.9 billion CAD capital program. This initiative represents Metro Vancouver's largest capital project, aiming to enhance human health and marine ecosystems. The project includes a new tertiary treatment facility and ecological restoration efforts, with completion anticipated by 2038, and commissioning expected in 2035.

Stantec, a leader in sustainable design and engineering, has been ranked as one of Canada’s Best 50 Corporate Citizens of 2022 by Corporate Knights, marking its 13th recognition. This accolade highlights Stantec's commitment to environmental, social, and governance (ESG) principles. The firm reported that 53% of its gross revenue aligns with the UN's Sustainable Development Goals, an increase from previous years. Additionally, Stantec became the first to link its financing strategy to the Bloomberg Gender-Equality Index score. Their ESG achievements have been recognized globally, enhancing their reputation in the industry.